AFY24 Budget Revision

Revenue Budget

The FY24 20-day count ended October 27, 2023, and the Average Daily Membership (ADM) information was due to the state on November 3, 2023. The FY24 ADM, which determines the level of state funding for this year, was reported at 8,302.12 students, which was 147.88 students below the 8,450 students projected for FY24. The count included 7,197.55 students in brick-and-mortar schools and 1,104.57 students enrolled in the Connections home school program. The original enrollment projection also included 200 intensive needs students. The number of intensive needs students submitted to the state was 210, an increase of 10. This preliminary ADM will likely change because of the reconciliation process with other districts and the final ADM will be confirmed by the state in February or March.

The total adjustment to the State of Alaska revenue is a reduction of $897,595, which includes a decrease of $895,192 in foundation funding, and a change in the Quality Schools in the amount of $2,403.

The total revised revenue budget is $139,884,822.

Expenditure Budget

The district reviews actual employees hired in each position to adjust salary and benefit accounts from estimates made during the preliminary budgeting process. Total decrease to salary and benefit accounts, not including Charter schools, is ($1,854,499).

Changes to the Charter Schools’ expenditure budgets of $140,688 includes changes to salaries/benefits, supplies and other expenses due to the recalculation of additional allowable and state aid.

Other expenditure adjustments include, Software, contracted services – OT/PT, Speech, Nursing, Hearing and Visually impaired, Supplies, Accreditation services, Charter school rent and in-kind offset. Other adjustment to expenditures total $754,399.

This brings the total FY23 anticipated expenditures to $139,884,822.

With these changes to revenues and expenditures, we do not anticipate using fund balance in FY24.